INSTRUMENTS FOR FINANCING THE INFORMATION SOCIETY: A FRAMEWORK FOR POLICY-MAKING

Size: px
Start display at page:

Download "INSTRUMENTS FOR FINANCING THE INFORMATION SOCIETY: A FRAMEWORK FOR POLICY-MAKING"

Transcription

1 4 INSTRUMENTS FOR FINANCING THE INFORMATION SOCIETY: A FRAMEWORK FOR POLICY-MAKING Comisión Económica para América Latina y el Caribe (CEPAL)

2 This document was prepared the Division of Production, Productivity, and Management, and the ECLAC Office in Brasilia. The views expressed in this document, which has been reproduced without formal editing, are those of the authors and do not necessarily reflect the views of the Organization.. United Nations Publication LC/W.13 Copyright United Nations, January All rights reserved Printed in United Nations, Santiago de Chile Applications for the right to reproduce this work are welcomed and should be sent to the Secretary of the Publications Board, United Nations Headquarters, New York, N. Y , U.S.A. Member States and their governmental institutions may reproduce this work without prior authorization, but are requested to mention the source and inform the United Nations of such reproduction. 2

3 Summary Abstract... 5 I. Introduction... 7 II. Economic characteristics of the information society... 9 III. Instruments for financing the information society IV. Strategy for developing the information society and financing policy V. Criteria for a financing policy VI. Conclusions Annex ) 3

4

5 Abstract The development of the information society calls for national strategies that will enable countries to make full use of the sources and instruments available for financing digital development. Formulating and implementing such strategies requires a comprehensive vision and plans of action that set out clear priorities based on the criteria of efficiency, transparency, social solidarity and public-private agreements. This document looks at one of the crucial tools for implementing strategies for the development of the information society: financial instruments. The analysis highlights the wide variety of sources and alternative uses of resources and places them in a framework oriented towards policy-making. These considerations are put forward in the context of the Declaration of the World Summit on the Information Society, which established a Digital Solidarity Agenda. The structure of the document is as follows: (i) introduction; (ii) identification of the economic features of the information society, with emphasis on the developing countries; (iii) identification of agents and instruments for financing the information society, including international financing alternatives and the criteria on which international cooperation should be based; (iv) discussion of the relationship between digital development strategies and financing policy, highlighting the multiplicity of uses to which such financing can be put; (v) presentation of the criteria that should guide public financing policy, which are indispensable for allocating resources efficiently and ensuring due accountability; and (vi) conclusions. 5

6

7 I. INTRODUCTION The purpose of this document is to present the financial instruments available for the development of the information society, to highlight the wide variety of sources and the options for their use, and to place them in a frame of reference oriented towards policy-making. 1 This is done in the context of the provisions of the Declaration of Principles of the World Summit on the Information Society, which established a Digital Solidarity Agenda explicitly providing that: The Digital Solidarity Agenda aims at putting in place the conditions for mobilizing human, financial and technological resources for inclusion of all men and women in the emerging Information Society. Close national, regional and international cooperation among all stakeholders in the implementation of this Agenda is vital. To overcome the digital divide, we need to use more efficiently existing approaches and mechanisms and fully explore new ones, in order to provide financing for the development of infrastructure, equipment, capacity building and content, which are essential for participation in the Information Society. 2 In particular, it was proposed at the Summit that all countries and international organizations should act to create conditions conducive to increasing the availability and effective mobilization of resources for financing development as elaborated in the Monterrey Consensus. There are many channels for making the transition to an information society, and there are a number of instruments that can be used to progress towards universal availability by increasing access to information and communication technologies (ICT) and participation by all of the region s men and women. This endeavour calls for national strategies developed on a basis of consensus, appropriately designed and implemented public policies and strong private-sector initiative. In many countries, the financing needed to face this challenge cannot come from local efforts alone; an important role must also be played by foreign direct investment, credit and international financial support and technical cooperation, especially to support public projects or companies in order to make progress towards universal access. 1 2 This document is not based on an exhaustive inventory of instruments used in the countries of the region and the rest of the world, nor does it express any opinions concerning the instruments used by particular countries. Digital Solidarity Agenda, Plan of Action (WSIS-03/GENEVA/DOC/5-E), Geneva, 12 December 2003, section D, paragraph 27. 7

8 This document proposes that the development of the information society requires national strategies that can make full use of the different sources and instruments available for financing digital development. This, in turn, requires vision and plans of action with clear priorities based on the criteria of efficiency, transparency and social solidarity and on public-private agreements. The most important priorities for the region are access; use in the public sector; development of human capital for ICT; innovation, science and technology; and ICT use in the private sector. Cooperation between developed countries and multilateral agencies, on the one hand, and the regions most in need, on the other, is essential for carrying out high-impact programmes in strategic areas. It is also essential, however, to strengthen the coordination and implementation capacities of developing-country governments. International cooperation will encourage the development of endogenous capacities so that the countries can share in the benefits and the promise of the information society. International cooperation should not consist of copying what is done in other countries, but of analysing those practices from the point of view of the country that is receiving the cooperation. The structure of this document is as follows: the second section reviews some economic characteristics of the information society, focusing on the developing countries. The third section reviews the agents and instruments for financing the information society, including international financing options, and presents the criteria on which international cooperation should be based. Fourth, there is a discussion of the relationship between the digital development strategy and the financing policy, with emphasis on the multiple uses of the latter. Fifth, the criteria on which a public financing policy should be based are set out, since they are indispensable for ensuring efficient resource allocation and proper accountability. The last section presents some conclusions. 8

9 II.ECONOMIC CHARACTERISTICS OF THE INFORMATION SOCIETY Progress towards the information society should be based on the emergence of a society that is a people-centered, inclusive and development-oriented Information Society, where everyone can create, access, utilize and share information and knowledge, enabling individuals, communities and peoples to achieve their full potential in promoting their sustainable development and improving their quality of life, premised on the purposes and principles of the Charter of the United Nations and respecting fully and upholding the Universal Declaration of Human Rights. 3 Accordingly, digital networks, goods and services that facilitate access to and use of information and communication should be potentially accessible to all. Developing countries assign high priority to the development and dissemination of information technologies. As shown in figure 1, national ICT expenditure as a percentage of GDP is close to or higher than the world average (8.4% in Brazil and 7.8% in Chile and the Dominican Republic). In absolute terms, however, there is a huge gap in relation to the developed countries. The Latin American and Caribbean countries spend about US$ 400 per capita per year, whereas annual per capita expenditure in most of the developed countries is between US$ 2,000 and US$ 3, Our Common Vision of the Information Society, Declaration of Principles (WSIS- 03/GENEVA/DOC/4-E), Geneva, 12 December 2003, section A1. 9

10 ICT exp. as % of GDP FIGURE 1: ICT EXPENDITURE IN 2001 (Dollars and percentages of GDP) 10 Czech Rep. BRAZIL S.Africa DOM.REP. Hungary Bangl. Viet. Tunisia CHILE Taiwan 8 Slov.Rep. Potugal JAMAICA URG Estonia TRI&TOB Greece Korea Israel 6 PARGY HONDR NICRG COSTA RICA Italy BOLIVIA VZLA PERU Slovenia Spain 4India El SALV. ECUDR ARGENTINA HAITI PANAMA MEXICO GUATEMALA Russ.Fed. 2 Egypt Indonesia 0 New Zealand Sweden United States Singapore Switzerland Australia France Finland Japan Canada Denmark Germany United States Norway Austria Ireland y = x R 2 = ICT expenditure per capita in US$ Source: World Bank, World Development Indicators, Washington, D.C., Sample of 82 countries. This gap between countries in terms of per capita ICT expenditure is mostly due to the poverty and unequal income distribution observed in developing countries. This, in turn, results in the gap which in some countries is widening between digital wealth and digital poverty. Only households in the last income decile (that is, those with the most resources) have access to the full basket of information society goods and services (television, cable television, fixed-line telephones, cellular telephones, computers with broadband Internet access). Another population group (between 20% and 40%, depending on the country) has access to a partial basket consisting mainly of television and cellular telephones and, to a lesser extent, computers and cable television, but without the means to pay for fixed-line telephones or Internet. Lastly, at least half the population (the percentage is over 70% in some countries) has access to television but does not have individual access to cellular telephones or computers, much less Internet access. School networks for computer and Internet access and the networks available in telecentres and information centres have mitigated this problem by establishing mechanisms for community Internet access; they are, however, precarious and insufficient and in no way eliminate the domestic digital divide found in each country. From the above, it appears that the easy phase of expansion of the information society may have been completed in Latin America and the Caribbean. The region s high levels of poverty and unemployment, together with its highly unequal income distribution, may significantly slow down the spread of the use of digital technologies and networks, especially the Internet, unless the pace of technological change continues to reduce ICT costs rapidly and unless the conditions of the regulatory environment (for example, allowing the rapid entry of more efficient technologies) encourage market expansion. There are two factors that could influence the dynamics of this scenario: a) On the supply side, the trend towards lower ICT prices could facilitate access in the same way that it has for durable consumer goods, both those that have been in widespread use for decades (television) and more recent ones (cellular telephones and computers). Hardware 10

11 prices are tending to decline, but more slowly than expected. Meanwhile, software prices have not declined at the same speed; indeed, increased compliance with intellectual property rights a process that is occurring throughout the region may raise the price of the software basket, which makes the issue of free (non-proprietary) software increasingly relevant. Lastly, connection costs are excessively high for middle- and low-income consumers. Figure 2 shows the high percentage of per capita disposable income required in various countries of the region in order to have access to an Internet connection of reasonable speed. Although these costs are tending to fall, this is also occurring more slowly than was expected. 4 4 The experience of a number of countries shows that, although the prices of ICT goods could be lower, in many markets companies engage in market discrimination practices. They do not lower the prices of the equipment and software they sell because, if they do so to capture new low-income consumers, they lose sales at higher unit prices to their higher-income consumers. 11

12 FIGURE 2: MONTHLY RATES CHARGED FOR BROADBAND INTERNET ACCESS AS A PERCENTAGE OF MONTHLY PER CAPITA DISPOSABLE INCOME Monthly rate as a percentage of monthly per capita income ( 512 Kbps) 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Panama Brazil Mexico Argentina Chile Monthly rate as a percentage of monthly per capita income (256Kbps) 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Peru Colombia Venezuela Uruguay Panama Brazil Argentina Mexico Source: Author s calculations based on information from the leading service providers. Calculations based on data in local currency at current prices b) On the demand side, the dynamics and distribution of per capita income determine purchasing power. At present, the region s economies are expanding, although progress in reducing unemployment and poverty is lagging behind. A sustained high growth rate over the long term, accompanied by suitable social policies, would have a positive impact on purchasing power. 12

13 From a public perspective, 5 there are four significant factors that affect the rate of growth of the information society. (a) Reduction of access costs: Access to the information society depends to a significant extent on economies of scale and the externalities of the telecommunications infrastructure network, in relation to both the purchase price of the equipment and the cost of network access. 6 The more people are connected, the greater the social and individual benefits and the more rapidly connection costs diminish. Poverty, unequal income distribution and the existence of regions with significant access problems make it difficult to create a critical mass of consumers and users of digital technologies and networks. This problem has been partly overcome in the case of mobile telephones, but not in the case of the Internet. In this context, there are two courses of action for the developing countries. One is the adaptation of regulatory frameworks, including the protection and strengthening of competition, to incorporate new technologies and reduce access costs. The other is to expand community Internet access. (b) Rapid growth in the public sector: The new digital technologies and networks have a profound impact on the State, for two reasons. On the one hand, public services make intensive use of large-scale information production, storage and distribution. On the other, the State is the only institution that affects the daily life of all institutions, companies and individuals in a country. For this reason, digitization of the State not only improves its efficiency and transparency and strengthens its capacity to allocate resources efficiently, but also generates multiplier effects that encourage investments in new technologies and knowledge. This shows that one of the best policies available is to promote the intensive use of digital technologies and networks by the three branches of government (executive, legislative and judicial) at the central, regional and local levels. c) Speed of adaptation of institutions to the requirements of the information society. The development of digital networks and technologies sets off policy and regulatory changes because economic institutions have to adapt to new generations of digitized goods and services. The most significant changes include: i) The digitization of information flows and communication processes in the economy, in politics and in the daily life of users involves the construction of a legal and regulatory framework that makes digital interactions more secure. ii) The digitization of information requires the emergence of a new approach to intellectual property rights, where a balance must be struck between incentives for creativity and society s interest in maximizing the dissemination of knowledge and information. iii) Technological convergence and the global emergence of Internet protocol (IP) networks require a change in the regulatory paradigms for telecommunications. 5 6 Of course, mention should also be made of the fact that entrepreneurial growth, based on the interaction of companies in the context of innovation systems, is the foundation for much of the scientific and technological progress of the information society. In view of its importance, this issue should be considered separately. The Internet and telecommunications are affected by network externalities, meaning that their usefulness to each user depends on the total number of users of the network (as in the case of telephones, faxes, electronic mail, Internet access and virtual private networks (VPN)). For the companies providing the digital goods and services, the key is to take advantage of economies of scale by increasing demand, which involves reaching a critical mass that triggers an autonomous market dynamic that does not depend only on supply. This also implies that the more standards are disseminated, the greater the economies of scale and network externalities. 13

14 iv) The development of common standards is crucial for taking advantage of economies of scale. (d) Capacity to mobilize public, social and private resources for the development of the information society. Digital networks, goods and services may take the form of public goods (Internet, public-sector electronic portals, publicly financed information centres and telecentres), club goods (electronic data interchange (EDI) networks, access to Internet service providers (ISPs) or private Internet services) or private goods (computers, cellular telephones). All these goods have different characteristics in terms of rivalry and exclusion, which are determined mainly by a combination of technological protection measures (encryption) and enforcement of intellectual property rights. 7 Information society goods are thus produced in markets, by the public sector, or in cooperation between the public and private sectors. Corporations, institutions, associations and individuals in all sectors and regions of an economy may participate and join forces to build a network society and a network economy. This means that the development of the information society could be organized as a decentralized process in which all agents and institutions of the modern economy participate. In this framework, the State would play an important role as facilitator and coordinator. This would be a process of accumulation of physical, social and knowledge capital determined by free or regulated markets (i.e., telecommunications) that are more fragmented than concentrated, as well as by the production of digitized public goods provided by the private sector, non-governmental organizations (one example is the software that made the emergence of the Internet possible) or, in most cases, by the public sector. 7 A good or service is excludable (non-excludable) if it possible (impossible) to preclude an individual from consuming that good or service. Rivalry is related to whether one individual s consumption of a good precludes consumption by other individuals. The marginal cost of a non-rivalrous good is zero. A pure private good is one that is fully excludable and rivalrous. A pure public good is one that is fully non-rivalrous and non-excludable. 14

15 III. INSTRUMENTS FOR FINANCING THE INFORMATION SOCIETY Companies, households and governments are consuming and investing in more and more digitized goods and services. This involves the mobilization of a growing volume of economic resources, which come from a number of sources, as shown in the following table. Four types of financing sources are distinguished: (i) private spending directed specifically to ICT, operating without public intervention but respecting more general rules, such as the protection of competition or the supervision of the financial system; (ii) private spending spurred by public signals but not involving State resources; (iii) public spending, including direct State operations and subsidy or support initiatives using public resources; and (iv) spending financed by international sources. There are three methodological issues to consider: (i) The type of financing should reflect factors such as the structure of the industry or niche in question and the stage of development of the technology in a particular area. Different areas of the industry such as telecommunications, consumer informatics and electronics, software and content require different levels of capital intensity, investment recovery periods or research and development efforts, meaning that in each case some instruments will be more efficient than others. 8 The type of financing will also be affected by the stage of development of each technology, in particular 8 For example, when the aim is to take advantage of network economies and telecommunication externalities, priority will be given to instruments such as universal access and cross-subsidies between different user categories. Mass production and the diversification typical of consumer informatics and electronics can be financed using conventional instruments for the purchase of durable consumer goods, while part of the content industry, such as open (non-subscription) television, is financed by market mechanisms linked to advertising. The difficulties of financing the Internet through advertising are one example of the variables and relationships that require much more empirical analysis, particularly in the region. 15

16 whether the technology is at an early or advanced stage or whether the strategy of the companies involved is based more on innovation or on imitation. 9 (ii) The conditions of the environment (openness, growth rate, and institutional framework) and the size and degree of development of the economy of the country in question are also crucial factors. Without neglecting the potential of regional or subregional agreements to generate economies of scale, these variables will have a clear impact on the type of financing that will be most efficient in each case. (iii) Financing alone is not sufficient to deal with all the challenges that arise in the transition to an information society. Each financing instrument must be associated with mechanisms that maximize the efficiency of these new technologies, which must be positioned within a development strategy. 9 For example, venture capital plays a major role at the initial and expansionary stages of a technology s development, and becomes less significant as the technology matures. 16

17 TABLE 1 FINANCING SOURCES AND INSTRUMENTS Main Agent Area Instrument Prices Protection of competition, standards, consumer rights 1. PRIVATE (subject to bank supervision and competition policy) 2. REGULATED OR FOSTERED BY THE STATE (subject to public regulation and incentives) 3. PUBLIC (public-sector consumption and investment spending) 4.INTERNATIONAL (does not include FDI) Credit Capital markets Foreign investment Financial regulation Regulation of rates and charges Mandatory contribution with or without public subsidy Public incentives Public spending and investment Public enterprises Multilateral agencies Official development assistance Consumer credit Working capital credit Investment credit Venture capital Investment Promotion and attraction of FDI Support for venture capital and seed capital Centrally allocated credit and guarantee Price-setting for access and public charges Disaggregation of networks Universal access Training Technology Lower tariffs on imported digital goods Lower tax on income generated by software Tax incentives for research and development (R&D) Accelerated depreciation for ICT investments Tax exemptions for training ICT expenditure in social programmes Direct spending: public purchases Technology for R&D Grants for training and education Science and technology Public investment in infrastructure Investment policy Credit Grant for cooperation Grants New initiatives To be explored Source: elaboración propia Each source and group of instruments is described in greater detail below. Autonomous private spending. In this case, market prices are the main signal guiding the spending and investment decisions taken by consumers and enterprises. Financial instruments include all types of private credit for consumption and investment, leasing operations, private 17

18 investment, venture capital and foreign direct investment and credit from foreign private financial entities. Private spending regulated or fostered by the State, which operates on the basis of three types of instruments: a) Financial market regulations such as guarantee to cover information asymmetries; credit reserves or centrally allocated credit with special rates, maturities and guarantees; and regulations that encourage the creation of venture capital. b) Rate regulations and regulatory provisions on the rates and fees charged to the public, disaggregation of networks, radio frequency licences, etc. All of these are regulatory instruments to compensate for market failures in the area of telecommunications. 10 c) Mandatory contributions from private ICT enterprises for: Universal access, financed by between 1% and 5% of the income of telecommunications operators (see annex table). 11 Sectoral technology financed from private contributions but regulated by the State; they are used to increase investment in infrastructure for science and technology and for research and development (see annex). Generic training, financed from private contributions, to pay for professional training. Some of these resources are used for professional ICT training. Public spending by central, regional and local governments and public enterprises. This source includes the following forms of financing: a) Public incentives for private investment and spending i) Reduced or zero tariffs for imports of information technology goods and equipment. 12 ii) Elimination of double taxation in relation to income tax on the royalties of companies that export and import software, which can be implemented though unilateral actions or agreements to avoid double taxation. iii) Tax incentives for private spending on research and development, which may be generic or specific for ICT-related economic activities. iv) Tax incentives for human resources training, either horizontal or sectoral. v) Tax incentives by means of accelerated depreciation to encourage private investment in ICT From the standpoint of conventional microeconomics, in addition to problems of information asymmetries, two other types of market failure can be identified in telecommunications markets: (i) network and public good externalities and (ii) increasing returns to scale and decreasing marginal costs, which result in markets that are not perfectly competitive. In addition to these problems of Pareto efficiency, there are the problems of deviation from the ideals of distributive equity, which require special treatment. The operations and effectiveness of these and of the ones mentioned in the subsequent point are just beginning to be analysed. This was the APEC agreement implemented in Mexico, Peru and Chile. 18

19 b) Public spending and investment i) Government procurement of digital goods and services and spending on social programmers. The public activities associated with the management of procedures, taxes and systems of education, health and pensions, among others, directly or indirectly involve spending and investment in ICT. Also, the digitization of school or public service networks is an additional (and usually complementary) function of universal access. In this case, the demand comes from the State and is usually decentralized, but is economically very significant for extending access, increasing efficiency and transparency in the public sector and generating more demand for ICT goods and services. ii) Credit from the public banking system for the creation or expansion of operations and for investments in fixed capital or in research and development by the private sector, financed by budgetary means (see annex table) iii) Generic science and technology, financed from the budget, which allocate resources to projects or programmers for strengthening the science and technology infrastructure through competition, bidding or project evaluation (see annex table). iv) Explicit investment in public information technology infrastructure. Investments to create or provide public-sector access to broadband, voice networks and data on IP technology, which connects all government localities, both defense and civil. This investment may increase the efficiency of public administration, generating positive externalities for the economy and society. v) ICT investments by State-owned enterprises, which may generate positive externalities for the economy and society. Multilateral agencies make an important contribution to the international financing of public and private ICT programmers, especially for developing countries. The basic components of such financing are as follows: a) Credit and grants from multilateral agencies such as IDB and the World Bank. 13 b) Grants from organizations that provide official development assistance (ODA) for specific projects and programmers with a demonstrative impact. c) New initiatives that have not been sufficiently explored but that arise within the framework of the World Summit on the Information Society and are based on the Millennium Declaration and the outcome of the International Conference on Financing for Development (Monterrey, Mexico, 2002). An effort should be made to explore new initiatives for providing financial support for the development of programmers geared to reducing the digital divide or using ICTs to strengthen programmes designed to reduce hunger and social inequality.14 The Technical Group s proposals to the United Nations include taxes on financial transactions and on trade in weapons. In addition, there are other proposals at different stages of implementation, including new debt swap modalities that explicitly incorporate investments associated with the information society (as mentioned in the Plan of Action of the World Summit on the Information The role of multilateral agencies is not only to provide financing. These organizations can help to review strategies and programmes that countries have implemented or are implementing, especially in cases where there are problems of coordination, efficiency and effectiveness when multiple programmes are under way. One such programme is the initiative launched in 2004 by the presidents of Brazil, Chile, Spain and France with support from the United Nations Secretary-General. 19

20 Society) or specific taxes. 15 Almost all the countries in the region have implemented an instrument for achieving digital solidarity between actual and potential ICT users: universal access. Given the global nature of digital goods and services and the transnational structure of the major ICT providers, a similar model could be considered at the international level in order to finance access to hardware, software and telecommunications for those population groups that are excluded from the global information society. Additional international financing for digital development should meet the following conditions: (i) The aid should be used to set up stable and predictable programmes, since the interruption of assistance flows reduces their effectiveness. (ii) Administrative expenses should be minimized. To this end, full use should be made of existing bilateral and multilateral channels for the disbursement of, so as to avoid creating new bureaucracies. (iii) The aid should preferably be provided in the form of grants, since many developing countries have embarked on fiscal adjustment programmes in order to deal with public debt and reduce inflationary pressures, in an effort to create the basic macroeconomic conditions for growth. (iv) The resources obtained should be managed in a transparent manner in order to ensure accountability in their use. Since many mechanisms involve decisive and coordinated policy action, transparency and accountability are very important for maintaining strong domestic political support over the long term; this represents a huge challenge for many countries of the region. 15 Experiences and ideas that have emerged on issues such as environmental protection or combating diseases such as HIV/AIDS can also be used. 20

Preventing through education

Preventing through education Ministerial Declaration Preventing through education The Ministerial Declaration Preventing through Education, was approved in Mexico City in the framework of the 1st Meeting of Ministers of Health and

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS. Mamiko Yokoi-Arai

THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS. Mamiko Yokoi-Arai THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS Mamiko Yokoi-Arai Current macro economic environment is of Low interest rate Low inflation and nominal wage growth Slow growth Demographic

More information

Energy Briefing: Global Crude Oil Demand & Supply

Energy Briefing: Global Crude Oil Demand & Supply Energy Briefing: Global Crude Oil Demand & Supply November 6, 215 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Please visit our sites at www. blog. thinking outside the

More information

DIGITAL AGENDA FOR LATIN AMERICA AND THE CARIBBEAN (elac2018)

DIGITAL AGENDA FOR LATIN AMERICA AND THE CARIBBEAN (elac2018) 7 August 2015 ENGLISH ORIGINAL: SPANISH Fifth Ministerial Conference on the Information Society in Latin America and the Caribbean Mexico City, 5-7 August 2015 DIGITAL AGENDA FOR LATIN AMERICA AND THE

More information

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country. Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer

More information

Digital TV Research. http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample

Digital TV Research. http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample Digital TV Research http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am -

More information

CELAC ACTION PLAN 2015

CELAC ACTION PLAN 2015 CELAC ACTION PLAN 2015 FOOD SECURITY AND HUNGER AND POVERTY ERADICATION 1. Implement CELAC s Plan for Food Security, Nutrition and Hunger Eradication 2025, developed by FAO, ECLAC and ALADI following up

More information

FREE TRADE AND MEXICO S MEAT SECTOR. September 27, 2012

FREE TRADE AND MEXICO S MEAT SECTOR. September 27, 2012 FREE TRADE AND MEXICO S MEAT SECTOR September 27, 2012 Contents I. Trade Agreements signed by Mexico II. Benefits of Foreign Trade III. External Challenges of Foreign Trade IV. Foreign Trade and the Mexican

More information

Overview menu: ArminLabs - DHL Medical Express Online-Pickup: Access to the Online System

Overview menu: ArminLabs - DHL Medical Express Online-Pickup: Access to the Online System Access to the Online System Overview menu: Create shipment: Preselected - Here you can order your shipment including the Pickup 0049 821 78093150 ArminLabs DHL Medical Express Online-Pickup-Manual DHL

More information

Martin Hilbert, mhilbert@eclac.cl

Martin Hilbert, mhilbert@eclac.cl I N F R A S T R U C T U R E I N F R A S T R U C T U R E GENERIC S E R V I C E S REG. FRAMEWORK I N F R A S T R U C T U R E GENERIC S E R V I C E S I N F R A S T R U C T U R E GENERIC S E R V I C E S I

More information

The world in 2015. MDGs 2000-2015: ICT revolution and remaining gaps 2000 2015*

The world in 2015. MDGs 2000-2015: ICT revolution and remaining gaps 2000 2015* ICT Facts Figures & The world in 215 This year governments are making their final assessment of the UN Millennium Development Goals (MDGs), which global leaders agreed upon in the year 2. Over the past

More information

Trends in Digitally-Enabled Trade in Services. by Maria Borga and Jennifer Koncz-Bruner

Trends in Digitally-Enabled Trade in Services. by Maria Borga and Jennifer Koncz-Bruner Trends in Digitally-Enabled Trade in Services by Maria Borga and Jennifer Koncz-Bruner Digitally-enabled are those for which digital information and communications technologies (ICT) play an important

More information

How many students study abroad and where do they go?

How many students study abroad and where do they go? From: Education at a Glance 2012 Highlights Access the complete publication at: http://dx.doi.org/10.1787/eag_highlights-2012-en How many students study abroad and where do they go? Please cite this chapter

More information

Argentina s Economy: A death foretold again, or a surprise rescue? Claudio M. Loser Centennial- Latin America March 2014

Argentina s Economy: A death foretold again, or a surprise rescue? Claudio M. Loser Centennial- Latin America March 2014 Argentina s Economy: A death foretold again, or a surprise rescue? Claudio M. Loser Centennial- Latin America March 214 Argentine performance tended to be ahead the world and even the Emerging Economies

More information

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016 Senate Committee: Education and Employment QUESTION ON NOTICE Budget Estimates 2015-2016 Outcome: Higher Education Research and International Department of Education and Training Question No. SQ15-000549

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

The Economic Impact of a U.S. Slowdown on the Americas

The Economic Impact of a U.S. Slowdown on the Americas Issue Brief March 2008 Center for Economic and Policy Research 1611 Connecticut Ave, NW Suite 400 Washington, DC 20009 tel: 202-293-5380 fax:: 202-588-1356 www.cepr.net The Economic Impact of a U.S. Slowdown

More information

Contents. Public policies on care. Poverty, income distribution, perceptions of distribution and social spending

Contents. Public policies on care. Poverty, income distribution, perceptions of distribution and social spending Contents Poverty, income distribution, perceptions of distribution and social spending - Changes in poverty and its determinants - Income distribution and perceptions of distribution - Trends in household

More information

Perspectives on Venture Capital and Fixed Income Markets. ChileGlobal Seminar September 26, 2007

Perspectives on Venture Capital and Fixed Income Markets. ChileGlobal Seminar September 26, 2007 Perspectives on Venture Capital and Fixed Income Markets ChileGlobal Seminar September 26, 2007 Today s Discussion: Three Significant Forces for National Economic Growth Venture Capital Fixed Income Markets

More information

U.S. Trade Overview, 2013

U.S. Trade Overview, 2013 U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the

More information

The Central American SMEs and ICTs An empirical study on the impact of ICTs adoption on SME s performance

The Central American SMEs and ICTs An empirical study on the impact of ICTs adoption on SME s performance The Central American SMEs and ICTs An empirical study on the impact of ICTs adoption on SME s performance by Ricardo Monge González rmonge@caatec.org Cindy Alfaro Azofeifa calfaro@caatec.org Jose I. Alfaro

More information

A full report of our recent meeting will be distributed to all the delegations. Let me briefly summarize some of the most salient conclusions.

A full report of our recent meeting will be distributed to all the delegations. Let me briefly summarize some of the most salient conclusions. Statement by the Executive Secretary of the Economic Commission for Latin America and the Caribbean, ECLAC, Dr. José Antonio Ocampo, in the name of Regional Commissions of the United Nations It is a great

More information

INTERNATIONAL FACTORING

INTERNATIONAL FACTORING INTERNATIONAL FACTORING November 3, 2011 1 L. Gabriel Segura President and founding officer of CVCredit Inc, a Miami-based company which focuses in USA-domestic and international factoring services. Nine

More information

The economic infrastructure gap in Latin America and the Caribbean

The economic infrastructure gap in Latin America and the Caribbean Issue No. 293 - Number 1 / 2011 B U L L E T I N ISSN 1564-4243 FACILITATION OF TRANSPORT AND TRADE IN LATIN AMERICA AND THE CARIBBEAN The economic infrastructure gap in Latin America and the Caribbean

More information

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract

COST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract COST Presentation COST Office Brussels, 2013 COST is supported by the EU Framework Programme ESF provides the COST Office through a European Commission contract What is COST? COST is the oldest and widest

More information

Composition of Premium in Life and Non-life Insurance Segments

Composition of Premium in Life and Non-life Insurance Segments 2012 2nd International Conference on Computer and Software Modeling (ICCSM 2012) IPCSIT vol. 54 (2012) (2012) IACSIT Press, Singapore DOI: 10.7763/IPCSIT.2012.V54.16 Composition of Premium in Life and

More information

What Proportion of National Wealth Is Spent on Education?

What Proportion of National Wealth Is Spent on Education? Indicator What Proportion of National Wealth Is Spent on Education? In 2008, OECD countries spent 6.1% of their collective GDP on al institutions and this proportion exceeds 7.0% in Chile, Denmark, Iceland,

More information

REPORT OF THE KNOWLEDGE TRANSFER NETWORK*

REPORT OF THE KNOWLEDGE TRANSFER NETWORK* Distr. LIMITED LC/L.3379(CEA.6/7) 19 October 2011 ENGLISH ORIGINAL: SPANISH Sixth meeting of the Statistical Conference of the Americas of the Economic Commission for Latin America and the Caribbean Bávaro,

More information

Evolution of EU exports and imports of goods with CELAC, 2004-2014 (in billion)

Evolution of EU exports and imports of goods with CELAC, 2004-2014 (in billion) 100/2015-9 June 2015 EU Community of Latin American and Caribbean States (CELAC) summit CELAC represents the fifth most important trading partner of the EU More than 200 bn total trade The 28 Member States

More information

Executive summary. Global Wage Report 2014 / 15 Wages and income inequality

Executive summary. Global Wage Report 2014 / 15 Wages and income inequality Executive summary Global Wage Report 2014 / 15 Wages and income inequality Global Wage Report 2014/15 Wages and income inequality Executive summary INTERNATIONAL LABOUR OFFICE GENEVA Copyright International

More information

Accounting Education in Latin America and the Caribbean

Accounting Education in Latin America and the Caribbean REPARIS A REGIONAL PROGRAM Accounting Education in Latin America and the Caribbean Henri Fortin, Program Manager, CFRR THE ROAD TO EUROPE: PROGRAM OF ACCOUNTING REFORM AND INSTITUTIONAL STRENGTHENING (REPARIS)

More information

Chilean ICT Sector. Introduction. Chile-Taiwan. Raúl Ciudad President ACTi A.G.

Chilean ICT Sector. Introduction. Chile-Taiwan. Raúl Ciudad President ACTi A.G. Chile-Taiwan Chilean ICT Sector Raúl Ciudad President ACTi A.G. Introduction ACTI, the entrepreneurial community in action Chilean Association of Information Technology Companies (ACTI AG) Founded in 1984

More information

The face of consistent global performance

The face of consistent global performance Building safety & security global simplified accounts The face of consistent global performance Delivering enterprise-wide safety and security solutions. With more than 500 offices worldwide Johnson Controls

More information

U.S. Salary Increase Survey Highlights

U.S. Salary Increase Survey Highlights Consulting Performance, Reward & Talent 2012 2013 U.S. Salary Increase Survey Highlights We ask each participating company to treat these survey findings with the greatest confidence. The findings are

More information

Introducing GlobalStar Travel Management

Introducing GlobalStar Travel Management Introducing GlobalStar Travel Management GlobalStar is a worldwide travel management company owned and managed by local entrepreneurs. In total over 80 market leading enterprises, representing over US$13

More information

Colombia in the world

Colombia in the world Colombia in the world Proexport around the world Process of attracting Foreign Direct Investment Proexport offers detailed and professional assistance for investors that find interesting business opportunities

More information

International good practices in data collection and comparison

International good practices in data collection and comparison International good practices in data collection and comparison Dr Tim Kelly Head, Strategy & Policy Unit, International Telecommunication Union (ITU) Workshop on benchmarking performance in network and

More information

Business Phone. Product solutions. Key features

Business Phone. Product solutions. Key features Product solutions Enjoy free calls and significant savings on your business landline bills with from International. Set-up is simple and you don t need to change your existing telephone numbers, plus there

More information

Hong Kong s Health Spending 1989 to 2033

Hong Kong s Health Spending 1989 to 2033 Hong Kong s Health Spending 1989 to 2033 Gabriel M Leung School of Public Health The University of Hong Kong What are Domestic Health Accounts? Methodology used to determine a territory s health expenditure

More information

Combating Tax Evasion through Transparency and Exchange of Information

Combating Tax Evasion through Transparency and Exchange of Information Combating Tax Evasion through Transparency and Exchange of Information BSEC 23 November 2012 Simon Knott Global Forum Secretariat OECD What s at stake NO LEVEL PLAYING FIELD tax fraud and evasion lack

More information

Region Country AT&T Direct Access Code(s) HelpLine Number. Telstra: 1 800 881 011 Optus: 1 800 551 155

Region Country AT&T Direct Access Code(s) HelpLine Number. Telstra: 1 800 881 011 Optus: 1 800 551 155 Mondelēz International HelpLine Numbers March 22, 2013 There are many ways to report a concern or suspected misconduct, including discussing it with your supervisor, your supervisor s supervisor, another

More information

Food Security: A Priority for the Inter American Social Protection Network

Food Security: A Priority for the Inter American Social Protection Network Food Security: A Priority for the Inter American Social Protection Network The General Secretariat of the Organization of American States (OAS/GS), the FAO Regional Office for Latin America and the Caribbean,

More information

List of tables. I. World Trade Developments

List of tables. I. World Trade Developments List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade

More information

PRINCIPLES FOR EVALUATION OF DEVELOPMENT ASSISTANCE

PRINCIPLES FOR EVALUATION OF DEVELOPMENT ASSISTANCE PRINCIPLES FOR EVALUATION OF DEVELOPMENT ASSISTANCE DEVELOPMENT ASSISTANCE COMMITTEE PARIS, 1991 DAC Principles for Evaluation of Development Assistance Development Assistance Committee Abstract: The following

More information

Ongoing ITU research suggests that at present, around 43% of national strategies reference youth.

Ongoing ITU research suggests that at present, around 43% of national strategies reference youth. YOUTH AND ICT HIGHLIGHTS Almost half the world's population is under the age of 25 and nearly a quarter are aged 12 to 24. Of those aged 12-24, nearly 40% live on less than two dollars a day. Youth employment

More information

Insurance corporations and pension funds in OECD countries

Insurance corporations and pension funds in OECD countries Insurance corporations and pension funds in OECD countries Massimo COLETTA (Bank of Italy) Belén ZINNI (OECD) UNECE, Expert Group on National Accounts, Geneva - 3 May 2012 Outline Motivations Insurance

More information

Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment

Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment OVERVIEW Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment Rising medical

More information

VENTURE CAPITAL: DRIVING DEVELOPMENT IN LATIN AMERICA

VENTURE CAPITAL: DRIVING DEVELOPMENT IN LATIN AMERICA VENTURE CAPITAL: DRIVING DEVELOPMENT IN LATIN AMERICA Multilateral Investment Fund Member of the IDB Group SUMMARY Venture Capital (VC) in Latin America is still in its inception but has enormous potential.

More information

Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND

Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND WHAT POLICY MONITORING IS,WHY IS IMPORTANT AND WHAT HAS ALREADY BEEN DONE IN OUR COUNTRIES? Monitor and evaluate developments in agricultural

More information

ECON 4311: The Economy of Latin America. Debt Relief. Part 1: Early Initiatives

ECON 4311: The Economy of Latin America. Debt Relief. Part 1: Early Initiatives ECON 4311: The Economy of Latin America Debt Relief Part 1: Early Initiatives The Debt Crisis of 1982 severely hit the Latin American economies for many years to come. Balance of payments deficits and

More information

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative

More information

DEMOGRAPHICS AND MACROECONOMICS

DEMOGRAPHICS AND MACROECONOMICS 1 UNITED KINGDOM DEMOGRAPHICS AND MACROECONOMICS Data from 2008 or latest available year. 1. Ratio of over 65-year-olds the labour force. Source: OECD, various sources. COUNTRY PENSION DESIGN STRUCTURE

More information

What Is the Total Public Spending on Education?

What Is the Total Public Spending on Education? What Is the Total Public Spending on Education? Indicator On average, OECD countries devote 12.9% of total public expenditure to, but values for individual countries range from less than 10% in the Czech

More information

Consumer Credit Worldwide at year end 2012

Consumer Credit Worldwide at year end 2012 Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international

More information

SUBCOMMITTEE ON PLANNING AND PROGRAMMING OF THE EXECUTIVE COMMITTEE

SUBCOMMITTEE ON PLANNING AND PROGRAMMING OF THE EXECUTIVE COMMITTEE PAN AMERICAN HEALTH ORGANIZATION WORLD HEALTH ORGANIZATION SUBCOMMITTEE ON PLANNING AND PROGRAMMING OF THE EXECUTIVE COMMITTEE 31st Session, 23-24 November 1998 Provisional Agenda Item 8 SPP31/8, Rev.1

More information

Deutsche Bank Research. The Pacific Alliance. A bright spot in Latin America May 2014. Deutsche Bank Research

Deutsche Bank Research. The Pacific Alliance. A bright spot in Latin America May 2014. Deutsche Bank Research The Pacific Alliance A bright spot in Latin America May 2014 Agenda 1 2 3 What is it about? Combined strengths Challenges ahead 1 What is it about? A next generation free trade agreement Mexico Colombia

More information

Finland must take a leap towards new innovations

Finland must take a leap towards new innovations Finland must take a leap towards new innovations Innovation Policy Guidelines up to 2015 Summary Finland must take a leap towards new innovations Innovation Policy Guidelines up to 2015 Summary 3 Foreword

More information

Coordinating national investment promotion with subnational investment promotion

Coordinating national investment promotion with subnational investment promotion . Coordinating national investment promotion with subnational investment promotion Investment climate, World Bank Global Market Access from an International Economy Spain: your partner in Europe Business

More information

EQUALITY AND SOCIAL INCLUSION

EQUALITY AND SOCIAL INCLUSION EQUALITY AND SOCIAL INCLUSION Alicia Bárcena Executive Secretary Economic Commission for Latin America and the Caribbean The critical role of the regional space Complementarities between global and regional

More information

Achieve Universal primary education

Achieve Universal primary education Goal 2. Achieve Universal primary education 2.1. Introduction The second Goal proposed in the Millennium Summit reflects the commitment adopted by the international community to achieve universal primary

More information

Diversity of Cultural Expressions INTERGOVERNMENTAL COMMITTEE FOR THE PROTECTION AND PROMOTION OF THE DIVERSITY OF CULTURAL EXPRESSIONS

Diversity of Cultural Expressions INTERGOVERNMENTAL COMMITTEE FOR THE PROTECTION AND PROMOTION OF THE DIVERSITY OF CULTURAL EXPRESSIONS Diversity of Cultural Expressions 1.EXT.IGC Distribution limited CE/08/1.EXT.IGC/Dec. Rev. 2 Paris, 20 August 2008 Original: English / French INTERGOVERNMENTAL COMMITTEE FOR THE PROTECTION AND PROMOTION

More information

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in

More information

THE CISCO CRM COMMUNICATIONS CONNECTOR GIVES EMPLOYEES SECURE, RELIABLE, AND CONVENIENT ACCESS TO CUSTOMER INFORMATION

THE CISCO CRM COMMUNICATIONS CONNECTOR GIVES EMPLOYEES SECURE, RELIABLE, AND CONVENIENT ACCESS TO CUSTOMER INFORMATION CUSTOMER SUCCESS STORY THE CISCO CRM COMMUNICATIONS CONNECTOR GIVES EMPLOYEES SECURE, RELIABLE, AND CONVENIENT ACCESS TO CUSTOMER INFORMATION EXECUTIVE SUMMARY CUSTOMER NAME Coleman Technologies INDUSTRY

More information

Fact Sheet: Information and Communication Technology

Fact Sheet: Information and Communication Technology Fact Sheet: Information and Communication Technology Approximately one billion youth live in the world today. This means that approximately one person in five is between the age of 15 to 24 years; The

More information

TUNIS COMMITMENT. Document WSIS-05/TUNIS/DOC/7 -E 18 November 2005 Original: English

TUNIS COMMITMENT. Document WSIS-05/TUNIS/DOC/7 -E 18 November 2005 Original: English Document WSIS-05/TUNIS/DOC/7 -E 18 November 2005 Original: English TUNIS COMMITMENT 1. We, the representatives of the peoples of the world, have gathered in Tunis from 16-18 November 2005 for this second

More information

TOWARDS PUBLIC PROCUREMENT KEY PERFORMANCE INDICATORS. Paulo Magina Public Sector Integrity Division

TOWARDS PUBLIC PROCUREMENT KEY PERFORMANCE INDICATORS. Paulo Magina Public Sector Integrity Division TOWARDS PUBLIC PROCUREMENT KEY PERFORMANCE INDICATORS Paulo Magina Public Sector Integrity Division 10 th Public Procurement Knowledge Exchange Platform Istanbul, May 2014 The Organization for Economic

More information

Survey of LAC agricultural research institutes on technical information management.

Survey of LAC agricultural research institutes on technical information management. Survey of LAC agricultural research institutes on technical information management. FORAGRO Technical Secretariat Area of Technology and Innovation Directorate of Technical Leadership and Knowledge Management,

More information

Presentation. Dear Reader:

Presentation. Dear Reader: Dear Reader: Presentation It is with great satisfaction that we present the results of the Coordinated Audit by the Federal Court of Accounts Brazil (TCU) on Information Technology (IT) Governance. This

More information

FACT SHEET. Gini Coefficient

FACT SHEET. Gini Coefficient FACT SHEET 1. Overview 1.1 Developed by an Italian statistician Corrado in the 1910s, is commonly used to indicate income inequality in a society. is a number which has a value between zero and one. As

More information

Methodology for the Broadband Development Index (IDBA) for Latin America and the Caribbean

Methodology for the Broadband Development Index (IDBA) for Latin America and the Caribbean Inter-American Development Bank Institutions for Development Sector (IFD), Institutional Capacity of the State Division (ICS) Methodology for the Broadband Development Index (IDBA) for Latin America and

More information

The Determinants of Global Factoring By Leora Klapper

The Determinants of Global Factoring By Leora Klapper The Determinants of Global Factoring By Leora Klapper Factoring services can be traced historically to Roman times. Closer to our own era, factors arose in England as early as the thirteenth century, as

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

Financing Urbanization

Financing Urbanization Commission des finances locales pour le développement Committee on Local Finance for Development Comisión de Financiación Local para el Desarrollo 1. INTRODUCTION Think Piece on Financing Urbanization

More information

INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS

INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS For release 10:00 a.m. (EST) Tuesday, March 8, 2011 USDL-11-0303 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL COMPARISONS

More information

Market Briefing: Trade-Weighted Dollar

Market Briefing: Trade-Weighted Dollar Market Briefing: Trade-Weighted Dollar August 16, 2016 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 4-664-1333 djohnson@ Mali Quintana 4-664-1333 aquintana@ Please visit our sites at blog.

More information

International Financial Reporting Standards

International Financial Reporting Standards International Financial Reporting Standards Of Growing Importance for U.S. Companies Assurance Services there is no longer a choice Three factors may influence your need to consider IFRS. First, many organizations

More information

A Resolution Concerning International Standards on Auditing

A Resolution Concerning International Standards on Auditing A Resolution Concerning International Standards on Auditing Passed by the Presidents' Committee October 1992 1. The members of IOSCO believe it is important to identify ways to facilitate crossborder offerings

More information

International environmental governance. Bali Strategic Plan for Technology Support and Capacity-building

International environmental governance. Bali Strategic Plan for Technology Support and Capacity-building UNITED NATIONS UNEP/GC.23/6/Add.1 EP Governing Council of the United Nations Environment Programme Distr.: General 23 December 2004 Original: English Twenty-third session of the Governing Council/ Global

More information

PISA FOR SCHOOLS. How is my school comparing internationally? Andreas Schleicher Director for Education and Skills OECD. Madrid, September 22 nd

PISA FOR SCHOOLS. How is my school comparing internationally? Andreas Schleicher Director for Education and Skills OECD. Madrid, September 22 nd PISA FOR SCHOOLS How is my school comparing internationally? Andreas Schleicher Director for Education and Skills OECD Madrid, September 22 nd PISA in brief Over half a million students representing 28

More information

Government at a Glance 2015

Government at a Glance 2015 Government at a Glance 2015 Size of public procurement Strategic public procurement E-procurement Central purchasing bodies 135 Size of public procurement Public procurement refers to the purchase by governments

More information

2011 ICT Facts and Figures

2011 ICT Facts and Figures The World in 211 ICT Facts and Figures One third of the world s population is online 45% of Internet users below the age of 25 Share of Internet users in the total population Users, developed Using Internet:

More information

Building on +60 GW of experience. Track record as of 31 December 2013

Building on +60 GW of experience. Track record as of 31 December 2013 Building on +60 GW of experience Track record as of 31 December 2013 Can data and analysis make a difference on turbine performance? Proven technology. For Vestas, it is more than a saying it is something

More information

REPORT OF THE CONFERENCE OF THE PARTIES ON ITS SEVENTH SESSION, HELD AT MARRAKESH FROM 29 OCTOBER TO 10 NOVEMBER 2001 Addendum

REPORT OF THE CONFERENCE OF THE PARTIES ON ITS SEVENTH SESSION, HELD AT MARRAKESH FROM 29 OCTOBER TO 10 NOVEMBER 2001 Addendum UNITED NATIONS Distr. GENERAL FCCC/CP/2001/13/Add.1 21 January 2002 Original: ENGLISH CONFERENCE OF THE PARTIES REPORT OF THE CONFERENCE OF THE PARTIES ON ITS SEVENTH SESSION, HELD AT MARRAKESH FROM 29

More information

352 UNHCR Global Report 2010

352 UNHCR Global Report 2010 352 UNHCR Global Report 2010 Argentina Bolivia (Plurinational State of) Brazil Chile Colombia Costa Rica Cuba Ecuador El Salvador Guatemala Honduras Mexico Nicaragua Panama Paraguay Peru Uruguay Venezuela

More information

relating to household s disposable income. A Gini Coefficient of zero indicates

relating to household s disposable income. A Gini Coefficient of zero indicates Gini Coefficient The Gini Coefficient is a measure of income inequality which is based on data relating to household s disposable income. A Gini Coefficient of zero indicates perfect income equality, whereas

More information

CMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update

CMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update CMMI for SCAMPI SM Class A 2011 End-Year Update Software Engineering Institute Carnegie Mellon University Pittsburgh, PA 15213 1 Outline Introduction Current Status Community Trends Organizational Trends

More information

Raveh Ravid & Co. CPA. November 2015

Raveh Ravid & Co. CPA. November 2015 Raveh Ravid & Co. CPA November 2015 About Us Established in 1986 by Abir Raveh, CPA & Itzhak Ravid, CPA 6 Partners, 80 employees Located in Tel Aviv, Israel wide range of professional services highly experienced

More information

United Nations Environment Programme Regional Office for Latin America and the Caribbean

United Nations Environment Programme Regional Office for Latin America and the Caribbean United Nations Environment Programme Regional Office for Latin America and the Caribbean UNITED NATIONS ENVIRONMENT PROGRAMME PROGRAMME DES NATIONS UNIES POUR L ENVIRONNEMENT Seventeenth Meeting of the

More information

The Pacific Alliance: Creating opportunities for investors. A TMF Group briefing. Antonio Soler Regional Director Business Development - Americas

The Pacific Alliance: Creating opportunities for investors. A TMF Group briefing. Antonio Soler Regional Director Business Development - Americas The Pacific Alliance: Creating opportunities for investors A TMF Group briefing Antonio Soler Regional Director Business Development - Americas In this paper Pacific Alliance synopsis 3 The Alliance members

More information

2015 Country RepTrak The World s Most Reputable Countries

2015 Country RepTrak The World s Most Reputable Countries 2015 Country RepTrak The World s Most Reputable Countries July 2015 The World s View on Countries: An Online Study of the Reputation of 55 Countries RepTrak is a registered trademark of Reputation Institute.

More information

UNCITRAL legislative standards on electronic communications and electronic signatures: an introduction

UNCITRAL legislative standards on electronic communications and electronic signatures: an introduction legislative standards on electronic communications and electronic signatures: an introduction Luca Castellani Legal Officer secretariat International harmonization of e-commerce law Model Law on Electronic

More information

Consolidated International Banking Statistics in Japan

Consolidated International Banking Statistics in Japan Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector

More information

Learning in Twenty-First Century Schools. Note 1. Series Introduction. Carlos Gargiulo

Learning in Twenty-First Century Schools. Note 1. Series Introduction. Carlos Gargiulo Learning in Twenty-First Century Schools Note 1. Series Introduction Carlos Gargiulo December 2014 The opinions expressed in this publication are those of the authors and do not necessarily reflect the

More information

FCPA and Anti-Corruption in Latin America

FCPA and Anti-Corruption in Latin America FCPA and Anti-Corruption in Latin America May 2011 FCPA Enforcement "FCPA enforcement is stronger than it's ever been and getting stronger. We are in a new era of FCPA enforcement; and we are here to stay."

More information

On What Resources and Services Is Education Funding Spent?

On What Resources and Services Is Education Funding Spent? Indicator On What Resources and Services Is Education Funding Spent? In primary, secondary and post-secondary non-tertiary education combined, current accounts for an average of 92% of total spending in

More information

Investing in Latin America through Spain: Planning Opportunities

Investing in Latin America through Spain: Planning Opportunities Investing in Latin America through Spain: Planning Opportunities 11th Annual Latin American Tax Conference Miami, Florida 10-11 March 2010 Luis Carbajo, Isabel Otaola, Joaquin Kersman, Clarissa Machado,

More information

HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE

HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE COUNTRY PROFILE: A COUNTRY IN TRANSFORMATION POLICY RECOMENDATIONS COUNTRY PROFILE Brazilian Equivalent Population in The World

More information

(OECD, 2012) Equity and Quality in Education: Supporting Disadvantaged Students and Schools

(OECD, 2012) Equity and Quality in Education: Supporting Disadvantaged Students and Schools (OECD, 2012) Equity and Quality in Education: Supporting Disadvantaged Students and Schools SPOTLIGHT REPORT: NETHERLANDS www.oecd.org/edu/equity This spotlight report draws upon the OECD report Equity

More information

Manufacturing. Sector

Manufacturing. Sector Manufacturing Sector Introduction Taking into account its interest in and knowledge of your business, Grupo Bancolombia*, through its subsidiaries, offers different financial solutions to industry. We

More information